The Economist Numbers Guide 6th Edition: The Essentials of Business Numeracy...

The Numbers Guide, now in its fifth edition, is aimed at managers who have budgetary, planning or forecasting responsibilities and is invaluable for everyone who wants to be competent, and able to communicate effectively, with numbers. There are chapters on Key Concepts:\nFinance and investment\nMeasures for interpretation and analysis\nForecasting techniques\nSampling and hypothesis testing\nIncorporating judgments into decisions\nDecision-making\nLinear programming and networking\nHow spreadsheet programmes can make it easy.\nThe guide also points out common pitfalls, such as:\nOn rounding - Two times two makes four? Right? Wrong. The answer could be anywhere between two and six when dealing with rounded numbers.\nOn percentages - if the inflation rate rises from 10% to 12% it has risen by two percentage points, but the actual percentage increase is 20%.\nOn probability - The probability of dealing a five-card hand containing four aces is 48/2,598,960 = 0.0000185 or 1 in 54,145. No.